Nigeria’s Sugar substitutes industry and its Growth, Trends, Progress, Challenges, Opportunities and Upcoming Projects
Market Entry - Sugar substitutes Industry in Nigeria: Analysis of Growth, Trends and Progress (2017 - 2022)

PUBLISHED

DEC 2017

Market Entry - Sugar substitutes Industry in Nigeria: Analysis of Growth, Trends and Progress (2017 - 2022)

Purchase Report

About the Market

The sugar substitutes market, which forms an integral part of the sugar industry, is currently driven by the rising demand for different kinds of sugar substitute products such as high-intensity sweeteners, low-intensity sweeteners, and high-fructose syrup in food, beverage, and healthcare applications. Sugar substitutes are used for weight loss, dental care, diabetes mellitus, reactive hypoglycemia, cost and shelf life contributing to high demand in the market. Saccharin, aspartame, and sucralose are the three primary compounds used as sugar substitutes in the US, with aspartame being the most popular due to a drop in price. China and India account for the largest diabetic population in the world. The artificial sweetener market is set to grow at around 8% per year as consumption of sugar substitutes rises in America, with about 66% of the population consuming beverages with sugar substitutes and 82.3% consuming food with added caloric sweeteners. Tate & Lyle and Cargill are some of the leading companies.

About the Geography

Nigeria is a presidential republic located in West Africa. It is the second largest economy and the highest producer of oil & gas in Africa. Nigeria has the third largest FDI stock in Africa,since the country remains Africa's largest producer of oil.

Nigeria has a privatized economy, low cost of labor, and abundant natural resources. The government promotes public-private partnerships and has liberal economic policies, which help maintain good relations with foreign firms. Being the seventh largest population in the world it is also the largest market in Africa. Foreign companies can own 100% of the business in all sectors except for industries critical to the nation’s security. Widespread corruption, poor infrastructure, terrorism, inefficient judicial system, and political instability have reduced the influx of foreign investment.

Despite these challenges, Nigeria received USD 80 billion in FDI in 2015. Bilateral trade agreements and treaties with many countries and tax incentives in all major industries have motivated investors to invest here.

 

Component Name

Unit

GDP (USD billion)

481

GDP Annual Growth Rate

-2.06

GDP Per Capita

2548

Unemployment Rate

13.3

Inflation Rate

17.6

Consumer Price Index (CPI)

206

Interest Rate

14

Balance of Trade (USD billion)

0.0932

Business Confidence

-24.1

Ease of Doing Business

169

Competitiveness Rank

127

Corruption Rank

136

Consumer Confidence

-28.2

Consumer Spending (USD billion)

38.502

Bank Lending Rate (Consumers)

17.18

Corporate Tax Rate

30

Sales Tax Rate

5

 

The Market Entry Series

Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.

 

 

 

1. Introduction

                1.1 Scope of the Report

                1.2 Regional Analysis

                                1.2.1 PESTLE Analysis

                                1.2.2 Analysis of Ease of Doing Business

2. Market Dynamics

                2.1 Drivers

                2.2 Restraints

                2.3 Opportunities

3. Market Demand Analysis

                3.1 Socio-Economic Segmentation

                3.2 Demographic Strengths & Weaknesses

                3.3 Spending Patterns

                3.4 Target Market Identification

4. Market Size of Sugar substitutes Industry by Type (USD millions)

                4.1 High intensity sweeteners

                4.2 Low intensity sweeteners

                4.3 High fructose syrup

5. Market Entry

                5.1 Market Entry: The Strategy

                                5.1.1 Types of Entry Modes, by Market Entry Objectives

                                5.1.2 Competition Analysis

                                                5.1.2.1 Market Share

                                                5.1.2.2 Strategies Adopted, Recent Events 

                                5.1.3 Pricing Strategy

                                5.1.4 Supply Chain Analysis

                                                5.1.4.1 Trade (Import-Export Analysis)

                                                5.1.4.2 Distribution Network & Retail Analysis

                5.2 Market Entry: The Administration

                                5.2.1 How to Register a Company (Flowchart)

                                5.2.2 Registration Processes 

                                                5.2.2.1 Ministries Involved

                                                5.2.2.2 Criteria and Conditions

                                5.2.3 List of Forms & Documents

                                5.2.4 Product Control Guidelines specified by the Government

6. Sources

7. Disclaimer

Purchase Report

Our Clients Include View All

Looking to Customize Report?